Dollar Diplomacy

Dollar Diplomacy,foreign policy created by U.S. president William Howard Taft (served 1909–13) and his secretary of state, Philander C. Knox, to ensure the financial stability of a region while protecting and extending American commercial and financial interests there. It grew out of President Theodore Roosevelt’s peaceful intervention in the Dominican Republic, where U.S. loans had been exchanged for the right to choose the Dominican head of customs (the country’s major revenue source).

Under the name of Dollar Diplomacy the Taft administration engineered such a policy in Nicaragua. It supported the overthrow of José Santos Zelaya and set up Adolfo Díaz ... (100 of 261 words)